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AMC to reward retail investors with free popcorn, screenings after 1,400% rally
More than 3.2 million individual investors owned a stake in AMC as of March 11, according to the statement.
AMC Entertainment Holdings Inc. is going all-in on this meme stock phenomenon.
The movie theater company launched on Wednesday a new initiative to promote “direct communication” with individual investors, who helped push AMC’s stock up 1,400% this year, rewarding them with free tickets and free popcorn.
“Many of our investors have demonstrated support and confidence in AMC...After all, these people are the owners of AMC, and I work for them,” chief executive officer Adam Aron said in a statement Wednesday.
More than 3.2 million individual investors owned a stake in AMC as of March 11, according to the statement. Those investors have the chance to enroll in the program ahead of the company’s July 29 shareholders meeting.
The movie-theater operator’s stock was up again in premakert on Wednesday, up 20% to $38.55 at 8 a.m in New York, after more than doubling in value in the past month and after reaching a new high on Wednesday. The latest news comes after the company raised $230.5 million in a stock sale to Mudrick Capital Management on Tuesday.
